Transportation Expenses

Filed Under » ,
Dictionary Says

Definition of 'Transportation Expenses'

An expense incurred by an employee or self-employed taxpayer while away from home in a travel status for business. Travel expenses are costs associated with business travel, such as taxi fares, meals and lodging. These expenses can be used as tax deductions for businesses and self-employed individuals when filing tax returns.
Investopedia Says

Investopedia explains 'Transportation Expenses'

Travel expenses may only be claimed if the transportation expenses are directly related to the primary business in which the individual works. For example, claiming transportation costs when you have not actually done any traveling for the business is not allowed and can be viewed as a form of tax fraud.

Articles Of Interest

  1.

    Tax Credit For Plan Expenses Incurred By Small Businesses

    Determine whether your business is eligible to claim a tax credit for establishing a retirement plan.

  2. 5 Expenses You Want to Be Deductible But Aren't

    Here are five expenses that many taxpayers often try to claim only to find out that their deductions are denied.

  3. 10 Tax Benefits For The Self-Employed

    Running your own business has both personal and financial perks.

  4. 7 Expenses You Won't Believe Are Deductible

    Many taxpayers would be surprised to discover some of the things that qualify as legitimate deductions.

  5. How To Owe Nothing On Your Federal Tax Return

    You have the control to determine whether you owe in April. Learn more here.

  6. Surviving On An Irregular Income

    Being self-employed provides freedom, but only if you learn to make your money last.

  7. Top 7 Social Security Myths: Exposed

    A look at several myths that surround Social Security benefits.

  8. How To Keep Your Small Business Afloat During Hard Times

    If an economic storm has your business taking on water, we have some tips for bailing yourself out.

  9. 7 Unconventional Ways Businesses Can Borrow Money

    Find out how your business can get the money it needs - even when the bank says "no".

  10. Business Grads, Land Your Dream Job

    Companies are in need of strategic candidates, not walking resumes. Find out how to set yourself apart from the pack and land the business career you've always wanted.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  2. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  3. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  4. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  5. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.

  6. Chartalism

    A non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=d676ea8866682878647e3bb3913f3330